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Jan 1, 2013
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senate has reached a deal in the fiscal cliff negotiations. cnn is reporting they just voted to approve it. all the details of the deal and what it means for you and your finances. >> reporter: lawmakers postponed the automatic spending cuts that would have hit the pentagon and other federal agencies this week. they did strike a deal on taxes. three hours before the midnight deadline, senate majority leader mitch mcconnell and vice president joe biden emerged with a compromise on taxes and agreed to wait on slashing spending. >> this was the mini cliff. the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush-era tax cuts remain in place for individuals earning as much as $400,000 a year, far above the 250,000 level on which president obama campaigned. but those making more will see higher
senate has reached a deal in the fiscal cliff negotiations. cnn is reporting they just voted to approve it. all the details of the deal and what it means for you and your finances. >> reporter: lawmakers postponed the automatic spending cuts that would have hit the pentagon and other federal agencies this week. they did strike a deal on taxes. three hours before the midnight deadline, senate majority leader mitch mcconnell and vice president joe biden emerged with a compromise on taxes...
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Dec 28, 2012
12/12
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the "fiscal cliff." president obama is supposed to meet with congressional leaders tomorrow. cbs reporter danielle nottingham is in washington and danielle, how's it looking? >> reporter: well, elizabeth, there was not a lot of optimism on capitol hill today. both senate leaders admitting that congress is facing a hard deadline while at the same time, blaming each other for not having a deal in place by now. president obama cut short his holiday vacation and returned to the white house to work on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democra
the "fiscal cliff." president obama is supposed to meet with congressional leaders tomorrow. cbs reporter danielle nottingham is in washington and danielle, how's it looking? >> reporter: well, elizabeth, there was not a lot of optimism on capitol hill today. both senate leaders admitting that congress is facing a hard deadline while at the same time, blaming each other for not having a deal in place by now. president obama cut short his holiday vacation and returned to the...
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Jan 1, 2013
01/13
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the white house and the gop have reached a deal on how to avoid the "fiscal cliff." the news comes just three hours before the new year's deadline. cbs 5 reporter grace lee on where it all stands now. grace. >> reporter: late developments brian. this all coming together in the last several minutes. what we have just learned is that the senate will be voting tonight before midnight. that's the deadline and you can see we have a live look at the u.s. capital as of right now. we are also just hearing that the vice president is headed right here to the capital to brief senate democrats on the details of the deal that they will be voting on toinght. for individuals making more than 400,000 or households more than $450,000, their tax rates are expected to go up next year. for two million jobless americans, their unemployment benefits should be extended at least another year. and that so-called inheritance tax will go from 35 to 40%. but even with all these compromises, it is likely that most of us will be shelling out more cash to the irs come next year. >> you know, keep
the white house and the gop have reached a deal on how to avoid the "fiscal cliff." the news comes just three hours before the new year's deadline. cbs 5 reporter grace lee on where it all stands now. grace. >> reporter: late developments brian. this all coming together in the last several minutes. what we have just learned is that the senate will be voting tonight before midnight. that's the deadline and you can see we have a live look at the u.s. capital as of right now. we...
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Dec 28, 2012
12/12
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cliff. we're just five days until the country tumbles into automatic tax hikes and spending cuts. the president has scheduled a meeting tomorrow with congressional leaders. cbs 5 reporter danielle nottingham on efforts to break the jam in washington. >> reporter: top congressional leaders are expected to meet with president obama at the white house friday. this would be the group's first face-to-face meeting since november 16, and a last-minute chance to avoid the so-called fiscal cliff. if no deal is reached, taxes will go up for nearly every american. senators reconvened thursday with tensions spilling over onto the floor. each side accused the other of stalling. >> speaker boehner is unwilling to negotiate. we've not heard a word from mcconnell. nothing is happening. >> the phone never rang. and so now here we are, five days from the new year. and we might finally start talking. >> reporter: senate majority leader harry reid skewered house speaker john boehner, charging he's more interest
cliff. we're just five days until the country tumbles into automatic tax hikes and spending cuts. the president has scheduled a meeting tomorrow with congressional leaders. cbs 5 reporter danielle nottingham on efforts to break the jam in washington. >> reporter: top congressional leaders are expected to meet with president obama at the white house friday. this would be the group's first face-to-face meeting since november 16, and a last-minute chance to avoid the so-called fiscal cliff....
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Dec 28, 2012
12/12
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cliff" deal is in sight. sunday the house has been called to an unusual session just in case an agreement is not reached. >>> a new report suggests the looming "fiscal cliff" is forcing consumers to lose confidence in the nation's economy. the conference board said on thursday its consumer price index fell sharply in december for the second consecutive month. >>> a potential strike by dock workers along the east coast and gulf coast threatens to cost the nation's economy billions. more than 14,000 longshoremen are ready to strike sunday. a walkout would shut ports from boston to houston. those ports move as much as 100 million tons of goods each year including everything from flat screen tvs, sneakers and snow shovels. >>> ski world entertainment plans to become a publicly traded company. the company's three parks are known for their water shows with killer whales. it earned $86 million during the first nine months of this year. seaworld's other property including two busch gardens parks and sesame place in p
cliff" deal is in sight. sunday the house has been called to an unusual session just in case an agreement is not reached. >>> a new report suggests the looming "fiscal cliff" is forcing consumers to lose confidence in the nation's economy. the conference board said on thursday its consumer price index fell sharply in december for the second consecutive month. >>> a potential strike by dock workers along the east coast and gulf coast threatens to cost the...
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Jan 1, 2013
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the last-minute deal that could avoid that "fiscal cliff." when we come back. ,, ,,,,,,,,,, to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in history? because everyone deserves a lifetime. visit the3day.org to register or to request more information and receive a free 3-day bracelet today. ♪ building up from deep inside it was 3 days of pure joy. susan g. komen's investments in early detection and treatment have helped reduce breast cancer mortality in the u.s. by 33% since 1990. help us continue serving the millions of women and men with breast cancer who still need us every day. register for the 3-day now. (woman) it's just been an amazing, amazing journey. i love these people. ♪ and it's beautiful dance class, shopping, and more. so do something nice for it. chevron with techron
the last-minute deal that could avoid that "fiscal cliff." when we come back. ,, ,,,,,,,,,, to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in history? because everyone deserves a lifetime. visit the3day.org to register or to...
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Dec 30, 2012
12/12
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cliff." >> got to get a deal? >> hope so. >> reporter: behind closed doors, senate leaders are cobbling together a pared down agreement that at least protects the middle class from tax increases january 1. it won't address deficit resit, across-the-board spending cuts or other issues. in both party addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay more. >> the president's tax hike would only fund the government for 8 days. americans deserve to know what is the president proposing we do for the other 357 days of the year? >> reporter: both the house and the senate will be in session tomorrow. the senate is expected to take the lead and vote on the scaled back bill. then send it to the house. as many americans brace for the worst, patience is running out. >> they're playing games with people's lives. and i don't think that's correct. >> reporter: even if congress manages to br
cliff." >> got to get a deal? >> hope so. >> reporter: behind closed doors, senate leaders are cobbling together a pared down agreement that at least protects the middle class from tax increases january 1. it won't address deficit resit, across-the-board spending cuts or other issues. in both party addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the...
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Dec 27, 2012
12/12
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some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they
some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to...
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Jan 1, 2013
01/13
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we have a down tot wire deal. >> the senate passes a bill to ease the pain of the "fiscal cliff." the one final hurtle to cross in the next couple of hours. >> reporter: tens of thousands lined up on the embarcadero to take in the new year's eve fireworks but police say some celebrations turned violent. we'll have the details in a live report. >>> and a ritzy new york couple busted with weapons and a bomb stash. but that's not all. the book that has police so concerned. keep it right here. we'll be back. ,,,, p [ female announcer ] pillsbury crescents on their own are fantastic but add some sauce, pepperoni and cheese and fold up the crescent dough...and presto! tuesday night just became crescent pizza pocket-tastic pillsbury crescents. let the making begin here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. i'm grace lee michelle has the >>> america rings i
we have a down tot wire deal. >> the senate passes a bill to ease the pain of the "fiscal cliff." the one final hurtle to cross in the next couple of hours. >> reporter: tens of thousands lined up on the embarcadero to take in the new year's eve fireworks but police say some celebrations turned violent. we'll have the details in a live report. >>> and a ritzy new york couple busted with weapons and a bomb stash. but that's not all. the book that has police so...
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Jan 1, 2013
01/13
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well there is one major hurdle left for this fiscal cliff deal that, is a vote later today in the house of representatives, perhaps as early as 1:00 in the afternoon. the senate voted well after the ball dropped in the early hours of the morning, passed overwhelmingly with lots of support from both sides. the final tally was 89-8. >> shouldn't have taken us this long to come to an agreement and this shouldn't be the model for how we do things around here but i appreciate the vice president's willingness to get this done for the country. >> reporter: vice president biden negotiated the deal with senate republicans over the weekend, but he also came to the hill last night to sell democrats on the plan some of whom thought there were too many tax giveaways to the rich in this deal. the plan makes permanent the bush era tax cuts on individuals making under $400,000 a year it also does the same for $450,000 worth of income for families. it also postpones harsh across the board spending cuts for a couple of months and now all eyes turn to the house. the speaker said last night he would hold a
well there is one major hurdle left for this fiscal cliff deal that, is a vote later today in the house of representatives, perhaps as early as 1:00 in the afternoon. the senate voted well after the ball dropped in the early hours of the morning, passed overwhelmingly with lots of support from both sides. the final tally was 89-8. >> shouldn't have taken us this long to come to an agreement and this shouldn't be the model for how we do things around here but i appreciate the vice...
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Jan 1, 2013
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but still, not a lot of time to mitigate all the effects of the "fiscal cliff." i'm grace lee, cbs 5. >>> amazingly the stock market didn't step off a cliff. in fact, the dow ended higher today. supposedly based on hope that a deal would be reached. it closed out 2012 with a 7% gain. nasdaq and s&p 500 also ended higher. >>> new details tonight in the murder of a teenaged girl in oakland over the weekend. she has been identified by oakland police as 15-year-old jubrill jordan. she was killed and a 14-year- old boy wounded near 66 and lion yesterday as they walked to a nearby bart station. witnesses say the shooter was also a teenager possibly as young as 13. >> my grand kid come to my house every, single day, kid they like to go to places, to friends' house, they take off though their little friends house and these fools out here killing each other. it's not right. >> the shooting brings oakland's homicide total to 131 for the year a 27% increase from last year. >>> remember all that christmas shopping that you did? good timing. as cbs 5 reporter mike sugerman te
but still, not a lot of time to mitigate all the effects of the "fiscal cliff." i'm grace lee, cbs 5. >>> amazingly the stock market didn't step off a cliff. in fact, the dow ended higher today. supposedly based on hope that a deal would be reached. it closed out 2012 with a 7% gain. nasdaq and s&p 500 also ended higher. >>> new details tonight in the murder of a teenaged girl in oakland over the weekend. she has been identified by oakland police as 15-year-old...
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Dec 28, 2012
12/12
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they're not --you know, they are waiting to see what's going to happen with the "fiscal cliff." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the se
they're not --you know, they are waiting to see what's going to happen with the "fiscal cliff." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and...
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Dec 27, 2012
12/12
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the "fiscal cliff." >>> unexpectedly falling in the naughty list. christmas present that became a family's triple x surprise. >> for christmas yesterday, a lot of you tried to take those presents outside and met one some rainfall. but today we are looking at different conditions. how long does the dry stick around? i have your seven-day forecast all the way to next year coming up. ,,,,,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. in sacramento unwrapped an android tablet. c-b-s reporter ron jones tells u
the "fiscal cliff." >>> unexpectedly falling in the naughty list. christmas present that became a family's triple x surprise. >> for christmas yesterday, a lot of you tried to take those presents outside and met one some rainfall. but today we are looking at different conditions. how long does the dry stick around? i have your seven-day forecast all the way to next year coming up. ,,,,,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you...
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Dec 28, 2012
12/12
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the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leaders say it's up to democrats who control the senate and white house to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: house members will return to capitol hill on sunday and could begin voting that night.
the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their...
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Dec 31, 2012
12/12
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. >> congress goes back to work trying to avoid the fiscal cliff. >> how close are we to a deal here? >> we shouldn't be waiting for people to cut deals in back rooms. american people ought to be able to watch the discussion and the debate. >> reporter: a connecticut lawyer is getting heavy criticism because he wants to sue the state over the newtown shooting. >> hello. we didn't do enough. this never should have happened. >>> colts' head coach makes it back to the sidelines three months after being diagnosed with cancer. >> the minute you get the diagnosis, you know, it's like getting hit across the head with a baseball bat. >>> kim kardashian and kanye west are expecting their first child. >> a little shocked. a little surprised. >> if there's no agreement by cliff, economists predict america will go back into a >> we don't want a howard dean sc reamscre. am. >> bungee jumping. >> we might need it. i might then and i might now. >>> i'm norah o'donnell with anthony mason. ch arlichare anlie d gaand yle gaylare e aroff.e off. o'donnell with anthony mason. charlie and gayle are we have
. >> congress goes back to work trying to avoid the fiscal cliff. >> how close are we to a deal here? >> we shouldn't be waiting for people to cut deals in back rooms. american people ought to be able to watch the discussion and the debate. >> reporter: a connecticut lawyer is getting heavy criticism because he wants to sue the state over the newtown shooting. >> hello. we didn't do enough. this never should have happened. >>> colts' head coach makes it...